Shares in Revolution Beauty spiked 27.92% to 30.35p after British online fashion retailer Boohoo said it had acquired a 7.1% stake in the group making it the fourth-largest shareholder of the beauty products maker.
Boohoo already sells Revolution Beauty products through several of the group's direct-to-consumer brand websites and its online digital department store, Debenhams.
Gooch & Housego slumps after profits warning
Optical components and systems manufacturer Gooch & Housego PLC (AIM:GHH) disappointed shareholders today with a trading update which saw its shares plunge 20% to 662p.
David Buxton, analyst at finnCap Research said that ”The group has announced a disappointing trading update signalling that despite a record order book, second half trading has been ‘gated’, with the ramp up in production constrained by labour and supply chain shortages.”
Buxton said the company expects second half progress versus the first but now expects full year FY22 EBIT to be £3.5mln lower than previous expectations.
Gooch and Housego also announced the planned retirement of its long-standing CEO, Mark Webster, to be replaced by Charlie Peppiatt.
Buxton reduced his full year 2022 EPS forecasts by 32% to 23.7p and his price target by 20.8% to 950p.
Cineworld Group PLC (LSE:CINE) said it is in talks with a number of stakeholders to raise additional liquidity after warning that recent admission levels have been below expectations.
Shares collapsed 43% as the cinema operator said the lower levels of admissions are due to a limited film slate that is anticipated to continue until November 2022.
It said any initiatives to boost its balance sheet would probably result in very significant dilution of existing equity interests in Cineworld.
Entain hit by £17mln fine
Entain PLC (LSE:ENT) was top of the FTSE 100 fallers after news that the Ladbrokes and Coral owner had been given a hefty fine for its failures in social responsibility and anti-money laundering, according to a UK regulator.
Shares fell 3.48% to 1,358p after the UK Gambling Commission said the betting and gaming group will pay £17mln, for failures at its online business and land-based businesses.
"Our investigation revealed serious failures that have resulted in the largest enforcement outcome to date," said Andrew Rhodes, chief executive of the Gambling Commission.
Entain will pay £14mln related to its online business, LC International Ltd, which hosts 13 sites including ladbrokes.com, coral.co.uk, and foxybingo.com and £3mln relating to its Ladbrokes Betting & Gaming Ltd operation, which covers 2,746 gambling premises across the UK.
"The operator conducted just one chat interaction with an online customer who spent extended periods gambling overnight during an 18-month period in which they deposited £230,845," the commission explained.